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20121129
20121129
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somewhere north of $1 trillion which is basically the difference between boehner's position and obama's position. it includes medicare cuts, entitlement cuts that are at least $400 billion. remember dick durbin on your show earlier in the week put that $400 billion marker down. democrats privately tell us they'll go higher, perhaps much higher if republicans get serious on raising taxes. they'll cut spending by about $1.2 trillion, which is the total of sequestration. and they'll probably have to throw in a debt limit increase to avoid hitting that in february. people involved in the talks feel like they can get there. there's no doubt it's going to take some time, boehner has to get republicans more comfortable with raising taxes including raising rates. i don't think there's a scenario where the rates don't go up on people making over $250,000. and democrats have to get more comfortable with entitlement changes. but at the end of the day, obama can deliver democrats. and i think boehner's stronger today than he was three months ago, and he could deliver more republicans than he coul
are at a virtual impasse when it comes to entitlement benefits and tax hikes. and while president obama is sending timothy geithner over to capitol hill today the president himself was supposed to meet with john boehner this week but now it seems he has no plans of doing that. but politico is reporting this morning that the top officials who have been working on this deal behind the scenes for months now said they are starting to get together an outline of an agreement. if all of that does go through here's what we can expect. for one taxes will go up by about $1.2 trillion. president obama has called for a $1.6 trillion tax hike over the next decade. this is right about in the middle of what democrats want and what republicans say they're willing to give. people making more than $250,000 a year should see limited deductions and loopholes and they'll most likely see a rise in their rates as well. as for entitlement benefits and this mainly goes for medicare, those will be cut by at least $400 billion and potentially a lot m
Search Results 0 to 1 of about 2